This is a case study that's a part of the 2021 REIT Industry ESG Report, an annual report detailing the REIT industry's environmental, social, and governance (ESG) performance details in the publicly traded U.S. REIT industry. Featured case studies showcase REIT leadership and ESG innovation from a variety of sectors and serve as a practical tool for stakeholders to assess the scale and impact of the REIT industry's ESG commitments and initiatives.
Healthpeak Properties, Inc. (NYSE: PEAK) regularly engages its stakeholders, including institutional investors, tenants, and employees, to identify ESG opportunities and prioritize initiatives. The feedback gained from stakeholders helps shape Healthpeak’s ESG reporting strategy, including the ESG frameworks in which the company participates.
For example, as a result of engagement efforts, in 2020, Healthpeak proactively aligned disclosure in its ESG report with the TCFD and SASB frameworks, in addition to the GRI framework and UN SDGs it had already adopted. Similarly, Healthpeak participates in numerous ESG reporting surveys, such as CDP, GRESB, and the S&P Global Corporate Sustainability Assessment, and regularly reviews data from reporting services such as MSCI, Sustainalytics, and ISS, based on feedback that these surveys are meaningful to key stakeholders. To underscore the company’s commitment to accountability and rigorous disclosure standards, Healthpeak’s annual ESG report is reviewed by an independent third-party assurer.
With a focus on comprehensive disclosure, Healthpeak enhanced its leading ESG reporting efforts to highlight social and governance initiatives, in addition to its climate and environmental programs. For instance, in 2020, Healthpeak added disclosure on the company’s culture and diversity objectives, and has reported workforce diversity and pay equity data for several years. Similarly, the company broadened the governance disclosure in its most recent ESG report to include ESG-related risks and opportunities, as well as Board and management oversight of ESG matters.
"We are committed to ESG reporting initiatives that align with stakeholder interests. By highlighting our robust ESG efforts through our reporting and disclosure practices, we also help advance meaningful transparency and accountability for these critical issues."
Tom Klaritch, Executive Vice President, Chief Operating Officer, and Chair of the ESG Committee
Over the past decade, Healthpeak has been recognized as an industry leader in ESG reporting, receiving Nareit's Leader in the Light award and GRESB's Green Star rating nine times, and being named to CDP's Leadership Band and Dow Jones Sustainability Index for eight consecutive years and the 100 Best Corporate Citizens list for three consecutive years. Healthpeak also expanded participation in ESG reporting initiatives to include social and governance-focused surveys, leading to numerous recognitions:
- Named to Bloomberg Gender-Equality Index (2019–2020)
- Nominee, IR Magazine's Best Proxy Statement for a Large Cap Company (2020)—recognizing Healthpeak’s robust and transparent governance and executive compensation disclosure
- Winner, Nareit's Diversity and Inclusion Recognition Award (2019, Silver)
- Winner, Ethical Boardroom's Best Corporate Governance Award for North American REITs (2019)
Healthpeak Properties, Inc. is a fully integrated REIT and S&P 500 company that owns and develops high-quality real estate in the three private-pay healthcare asset classes of Life Science, Medical Office, and CCRCs.